Comcare cashflow statement
for the period ended 30 June 2016
|Sales of goods and rendering of services||38,511||36,513||37,190|
|Receipts from Government||71,536||73,422||77,453|
|Workers' compensation premiums||435,851||561,979||450,400|
|Other cash received||756||327||-|
|Total cash received||574,553||693,676||591,919|
|Net GST paid||36,794||42,196||-|
|Workers' compensation claims||266,585||278,480||304,505|
|Asbestos related disease claims||22,594||17,128||33,211|
|Total cash used||430,391||438,293||439,379|
|Net cash from operating activities||3.2||144,162||255,383||152,540|
|Proceeds from sales of property, plant and equipment||18||5||-|
|Total cash received||18||5||-|
|Purchase of property, plant and equipment||1,460||86||4,100|
|Total cash used||1,460||86||4,100|
|Net cash (used by) investing activities||(1,442)||(81)||(4,100)|
|Net increase in cash held||142,720||255,302||148,440|
|Cash and cash equivalents at the beginning of the reporting period||677,619||422,317||617,147|
|Cash and cash equivalents at the end of the reporting period||2.1A||820,339||677,619||765,588|
The above statement should be read in conjunction with the accompanying notes.
Budget Variance Commentary
Reductions in active claims, and medical and incapacity payments, led to lower than expected workers compensation claims payments.
Asbestos related claims payments were less than the estimate provided by Comcare's independent actuary.
Delays in asset replacement and digital transformation projects led to lower than planned capital costs.